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§ Private Profile · Tel Aviv, Tel Aviv, Israel
Planck is a technology company.
Planck develops an advanced AI-driven data platform tailored for the commercial insurance industry. This core product employs generative AI to deliver focused insights, enabling insurers to conduct instant and accurate underwriting for diverse businesses. The platform enhances submission validation and provides sophisticated underwriting recommendations, significantly streamlining assessment processes for complex commercial policies.
The company originated from a clear understanding of the commercial insurance sector's need for greater efficiency and data precision. Its founders recognized an opportunity to leverage artificial intelligence, moving beyond traditional manual processes to offer a more intelligent approach to risk evaluation. This insight sought to transform how commercial policies are assessed.
Commercial insurers widely adopt Planck’s platform, optimizing operational workflows and refining risk management. The company's long-term vision is to continuously equip the industry with advanced, data-generated insights, fostering a future where commercial insurance underwriting is consistently precise, efficient, and thoroughly informed by artificial intelligence.
Planck has raised $98.0M across 5 funding rounds.
Planck has raised $98.0M in total across 5 funding rounds.
Planck Technologies AS is a Norwegian startup founded in 2023 that develops cutting-edge materials for energy storage applications using advanced simulation techniques like computational chemistry and AI.[1] It serves B2B customers in the energy and greentech sectors, solving the challenge of identifying high-performance, efficient, and sustainable materials to enable cleaner energy solutions, with a current focus on bootstrapping and commercialization.[1] The small team (1-10 employees) has secured 3 happy customers and emphasizes industry experience to bridge material science with practical energy storage needs.[1]
Planck Technologies AS was founded in 2023 in Norway by Maryam Ghadrdan (Founder and CEO) and Hamid Mehdizadeh (Cofounder and Advisor).[1] The idea emerged from the founders' industry experience, targeting the commercialization of emerging materials technologies for energy storage through AI-driven simulations.[1] Early traction includes a diverse team with 6 nationalities, specialists like Tim Pongratz (Chemistry), business developers Kavya Penmatcha and Yasaman Khanshaghaghi, and scientific advisors such as MIT Professor Yang Shao-Horn and University of Toronto Professor Mohamad Moosavi, supporting rapid problem-focused development.[1]
Planck Technologies AS rides the global surge in sustainable energy storage, driven by electrification, renewable integration, and net-zero goals, where advanced materials are critical for next-gen batteries and grid solutions.[1] Timing aligns with 2020s AI-material discovery boom, accelerating R&D amid supply chain pressures for greener tech.[1] Market forces like EU greentech funding and Norway's energy expertise favor it, while its B2B model influences the ecosystem by enabling faster commercialization of AI-optimized materials, reducing reliance on trial-and-error methods.[1]
Planck Technologies AS is poised for growth through partnerships with energy firms, leveraging its AI edge to scale from 3 customers toward broader adoption in batteries and renewables.[1] Trends like AI-material acceleration and SDGs-aligned greentech will shape its path, potentially attracting funding post-bootstrapping as commercialization milestones hit.[1] Its influence may evolve by setting standards for simulation-driven energy materials, amplifying Norway's role in global cleantech and powering a more efficient energy future—echoing its mission to bridge science and sustainability.[1]
Planck has raised $98.0M in total across 5 funding rounds.
Planck's investors include Amit Frenkel, 3L Capital, Arbor Ventures, Greenfield One, HDI, Nationwide, Team8, Viola Ventures, Vintage Investment Partners, 83North, Battery Ventures, Cyberstarts VC.
Planck has raised $98.0M across 5 funding rounds. Most recently, it raised $23.0M Other Equity in September 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 18, 2022 | $23M Venture Round | Amit Frenkel | 3L Capital, Arbor Ventures, Greenfield ONE, HDI, Nationwide, Team8, Viola Ventures | Announced |
| Sep 1, 2022 | $23M Series U | Vintage Investment Partners | 83North, Battery Ventures, Cyberstarts VC, Dell Technologies Capital, Goldman Sachs, Greenfield Partners, Partech Ventures, Ariel Maislos, 3L Capital, Arbor Ventures, Greenfield ONE, HDI, Nationwide, Team8, Viola Ventures | Announced |
| May 12, 2021 | $20M Venture Round | — | Paige Thacher, Arbor Ventures, Eight Roads Ventures, Greenfield Partners, Team8, Viola Fintech | Announced |
| May 1, 2021 | $20M Series U | — | 83North, Battery Ventures, Dell Technologies Capital, Goldman Sachs, Greenfield Partners, Partech Ventures, Ariel Maislos, 3L Capital, Arbor Ventures, Eight Roads Ventures, Team8, Viola Fintech | Announced |
| Jul 1, 2018 | $12M Series A | Lior Simon | Cyberstarts VC, Eight Roads Ventures, Viola Fintech | Announced |